Permira and Blackstone Consortium to Acquire Adevinta for $13.1 Billion

eBay to Sell Half Its Shares and Retain 20% Stake in New Entity; Deal Expected to Close in Q2 2024

A private equity consortium including Permira and Blackstone has announced plans to acquire eBay-backed online classifieds group Adevinta ASA for about 141 billion Norwegian crowns ($13.1 billion).
The offer represents a 52.6% premium to the volume weighted average price over the three months up to Sept. 21.
Adevinta's board was not able to recommend the offer to shareholders, suggesting the company can generate greater value over time.
As part of the deal, eBay will sell half of its shares for an estimated $2.2 billion and exchange the remaining shares for an equity stake of about 20% in the new entity.
The deal, which has a minimum threshold of 90%, is expected to be completed in the second quarter of 2024, pending regulatory approvals.